Regulations Flashcards
Administers economic sanctions and embargo programs that require assets and transactions involving interest of targeted parties be blocked or frozen.
OFAC
Governs Federal payments made through the ACH Network.
Title 31 Code of Federal Regulation (CFR) Part 210
Establishes the procedures for the interbank system of collecting checks and wire transfers and related provisions for settling balances, and transferring funds in the Federal Reserve System.
Regulation J
Governs the clearing and settlement of commercial ACH transactions by the Federal Reserve Banks, ODFIs and RDFIs.
Federal Reserve Bank Operating Circular No. 4
Governs the basic rights and obligation of consumers and financial institutions for the usage of electronic funds transfer services.
Regulation E
Applies only to Government securities issued by the Bureau of Public Debt and made through the ACH Network. These securities include Treasury bills, notes, and bonds, Government savings bonds and any other debt instrument issued by the Bureau of Public Debt.
Title 31 Code of Federal Regulations (CFR) Part 370
Specifies the requirements associated with reserves that depository institutions must maintain at Federal Reserve Banks.
Regulation D
A comprehensive body of law for wholesale electronic funds transfers. It details the rights and obligations of RDFIs, ODFIs, Originators and Receivers.
Uniform Commercial Code (UCC) Article 4A
A banking circular issued to address large-dollar payment system risks. It outlines the policies, procedures, and controls that national banks must have in place for assessing risk associated with various payment systems in which the bank participates.
OCC 2021-49 (comptrollers Handbook)
Provides rules for financial institutions that use EFT mechanisms to process Federal Tax payments through the Electronic Federal Tax Payment System (EFTPS). Financial institutions become legally bound to the regulation when they assist in completing Enrollment Form 9779 or initiate or receive a Prenote or live dollar tax payment.
Title 31 Code of Federal Regulation (CFR) Part 203
Administers and enforces the Bank Secrecy Act (BSA) and policy to prevent money laundering.
FinCIN, the Financial Crimes Enforcement Network
Contains terms for opening, maintaining and terminating a master acct with a Federal Reserve Bank
FRB OC 1
Defines ACH processing windows/schedules
Appendix B of the FRB OC 4
Applies to funds transfers made through the Fedwire Funds Service
FRB OC 6, and subpart B of Reg J
Applies to funds transfers made through the Fednow Service
FRB OC 8, and subpart C of Reg J